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In a Sweezy oligopoly, the profit-maximizing level of output occurs where mr=mc.
Paul M. Sweezy created the oligopoly's kinked demand curve in 1939. The model explains how oligopolistic groups behave rather than placing emphasis on how price-output determination occurs.
With an equilibrium output of Q units and an equilibrium price of P, the oligopolist maximizes profits by equating marginal income with marginal cost.
Due to each company's desire to maximize profits, there is frequently intense competition among them when it comes to pricing, production, and promotion.
The main distinction between a monopolist and a perfectly competitive firm is that although for a monopolist, marginal revenue is not equal to the price since changes in output quantity affect the price.
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Small business in the US provides 64% of new private-sector jobs, 49.2% of private sector employment and 46% of private-sector output. It can be seen clearly from this that small business is a major contributor to employment and output in the US.
Answer:
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Explanation:
When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:
A credit to Accounts Receivable (to remove the amount that will not be collected)
A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)
Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Answer:
See explanation
Explanation:
Since X-Mart company uses perpetual inventory system, the inventory system shows the real-time selling of inventories. Purchasing merchandise on account means no cash has been paid and a liability is existed. To record the transaction, the following journal entry will require in the book of X-Mart-
Debit Merchandise Inventory $300
Credit Accounts payable $300
